Potentia Wealth Takes Position in Wells Fargo & Company (NYSE:WFC)

Potentia Wealth bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,112 shares of the financial services provider's stock, valued at approximately $1,553,000. Wells Fargo & Company comprises 0.7% of Potentia Wealth's holdings, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Spinnaker Trust boosted its holdings in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 134 shares during the period. Crown Wealth Group LLC boosted its stake in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after acquiring an additional 140 shares in the last quarter. Jacobsen Capital Management grew its holdings in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after acquiring an additional 148 shares during the period. Finally, New Republic Capital LLC increased its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after purchasing an additional 149 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $74.18.

Wells Fargo & Company Trading Down 2.6 %

Wells Fargo & Company stock traded down $1.85 during trading on Friday, reaching $70.43. The company had a trading volume of 8,891,511 shares, compared to its average volume of 17,112,941. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock's 50 day moving average price is $75.97 and its two-hundred day moving average price is $69.80. The firm has a market capitalization of $229.97 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.